Shawmut Infinite, a newly created affiliate of Shawmut LLC, West Bridgewater, Mass., recently acquired warp knitter Fairystone Fabrics, Burlington, N.C. Shawmut Infinite plans to continue Fairystone’s contract knitting and warping service operation in Burlington retaining both the management team and 100-percent of the work-force. Over the next two years, Shawmut plans to invest $8 million to retrofit the facility with new, digitally controlled prototyping, knitting and warping technologies. The transaction was structured as a purchase of assets.
“The Fairystone acquisition marks the realization of Shawmut’s long-standing vision for operating a fully integrated textile and textile composite supply chain in North America, and for deploying new digital tools that enable big leaps for-ward in productivity and innovation,” said Shawmut CEO James Wyner. “It’s just one more way in which Shawmut is enhancing its position as a preferred global partner to automotive and industrial OEMs”.
2024 Quarterly Issue IV
